CALGARY - Enbridge Inc. is expanding tankage at its Athabasca Terminal to accommodate growing production from two of Suncor Energy Inc.'s oilsands projects in northern Alberta.
The Calgary-based pipeline giant (TSX:ENB) says the $150-million expansion includes a 350,000-barrel tank and other infrastructure.
Construction began in July and the expansion is expected to be in service in mid-2013.
Suncor and Enbridge have signed an agreement that will see the pipeline company recover all operating costs, a return on equity and all of its invested capital.
The expansion is meant to handle growing volumes from Suncor's Firebag 4 and Firebag 4 developments.
"We're pleased to further strengthen our relationship with Suncor by delivering timely and innovative terminalling and transportation services," said Steve Wuori, president of liquids pipelines and major projects at Enbridge.